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URSA Bank decreases interest rates on mortgages

10.06.2008. : public
URSA Bank decreased the interest rate on its mortgage loans by 2%. Now, if you make a 10% down payment and borrow the rest of the sum for three to thirty years, the average interest rate comes to 15% a year. You can apply for anything between 100,000 RUR and 15 million RUR.

Decreasing the rate was possible due to our funds growing less expensive. One reason for this was the recent $36m loan we obtained from BSTDB in order to develop our mortgage lending programs in the regions where the bank operates, says URSA Banks Deputy GD Petr Morsin.

According to RBC.Ratings data, URSA Bank was one of Russias top ten banks in terms of mortgage portfolio on January 1, 2008. The banks portfolio reached $860m at the beginning of the year.